according to a client’s order which is not guided or solicited by the securities underwriter (unsolicited purchase or sale); (3) purchase or sale for its own proprietary portfolio resulted from an error in

) a purchase or sale according to a client’s order which is not guided or solicited by the securities underwriter (unsolicited purchase or sale); (3) a purchase for its own proprietary portfolio

evaluation, reporting to the delegator, an inspection of compliance to the agreement and the capability of the delegatee in handling the business workload (concentration risk). 3. There should be a contingency